Operator: Good day everyone and welcome to the ParkerVision Third Quarter
2008 Earning Results Conference. As a reminder, today's call is being recorded.
At this time, I would like to turn the conference over to Mr. Paul Henning.
Please go ahead sir.

Paul Henning: Thank you very much. Before we get started, I want
to remind the listeners that this conference call will have certain forward‑looking
statements which involve known and unknown risks and uncertainties of our
business or our businesses and the economy and other factors that may cause
actual results to differ materially from our expected achievements and
anticipated results. Included in this respect are the visibility to maintain
technology advantages in the marketplace to achieve timely market introduction
and acceptance of our products, maintain product company protection, and the
availability of capital among others.

Given these uncertainties and other factors about our
business, listeners are cautioned not to place undue reliance on any forward‑looking
statements contained within this conference call. Additional information
concerning these and other risks can be found in our filings with the
Securities and Exchange Commission.

We will begin today's call with Cindy Poehlman, CFO, who
will review the financial results of the quarter and followed by Jeff Parker,
CEO of ParkerVision, who will report on the company's business activities.

Cindy, would you like to go ahead please?

Cindy Poehlman: [1:22] Yes, thank you Paul and thank you to those of
you joining us on the quarterly update call this afternoon. We reported today a
$0.25 per share net loss for the third quarter of 2008 compared to a $0.19 per
share loss for the same period in 2007. Year‑to‑date, our net loss
was $0.66 per share compared to $0.55 per share for the same period last year. The
increase in net loss for both the quarter and the nine months period is a
result of an increase in product development expenses and an increase in non‑cash
stock based compensation expense. While we are cognizant of and sensitive to
the problems in the broader economy, ParkerVision is entering a period of rapid
growth and one of our challenges internally is to support that growth as fully
and as prudently as possible.

As part of that process, the company awarded restricted
share units or RSUs to its employees as long‑term incentive compensation
over the last few months. Many of these RSUs were issued in connection with
executive and senior management employment agreements in June of this year.
Those RSUs vest over a three‑year period and likewise their estimated
value will be expensed over a three‑year period.

The value of these RSUs is calculated based on the market
price of the stock on the issue date, not the current market value of the
stock. This non‑cash expense resulted a nearly $800,000 increase in
operating expenses for the third quarter and $1.3 million increased for the
nine‑month period ended September 30th.

The other increase in operating expenses was due to
increases in our research and product development expenses. Excluding the
impact of the non‑cash equity award, our research and product development
expenses increased by nearly $1 million for the third quarter and $2.2 million
for the nine‑month period. Those increases were to support our internal
growth as we move towards our product launches and our for support high volume
IC production.

These increases included the hiring of a VP of engineering
with a solid background in silicon design, fabrication and testing in high
volume mobile handset applications. We also filled other key engineering positions
in the second half of last year and increased our use of external design
resources in 2008 on a project by project basis to facilitate some of the non‑proprietary
work required in our product development effort.

We ended the quarter with $9.8 million in cash and cash
equivalents representing a $5 million use of cash for the quarter. Excluding
the proceeds from any equity offerings or exercises of equity awards, the
company's use of cash for operations and investments in intellectual property
for 2008 averages approximately $4.6 million per quarter.

While we recognize the uncertainty and anxiety currently
prevailing in the capital market, we remain confident in our ability to fund
the company in a proper and prudent manner as we move from research and development
into the support of high volume IC circuit production by our customers. When
considering possible liquidity needs, a number of factors must be considered,
not the least of which is the timing and rate of royalty revenues expected to
be received in 2009.

Another important factor is the anticipated impact of
signing new customers, which we believe will increase our flexibility when
considering different financial alternatives, which include possible strategic
investments, equity financing, operating lines of credit or some combination
thereof.

I am happy to address any specific questions you have on the
financial results at the end of today's call, but for now I will turn things
over to Jeff Parker for an update on business development.

Jeff Parker: [5:03] So, thank you Cindy and good afternoon and
thank you for joining us. Today, I am going to provide you with an update on
ParkerVision's progress with our existing customers and toward contracts with
new customers. I will also speak briefly about some of the elements of our
technology and expand on some of Cindy's remarks as well. Given the events of
the late summer and the fall of 2008, you can certainly say that we live in
interesting times. In our industry, since our last call, we have seen some consolidations,
some mergers, companies closing divisions and others seeking buyers for certain
divisions.

In the last few months, companies in our industry have
certainly been distracted as they view the changing financial landscape and
have tried to determine how it could affect their strategic and operational
plans for the coming years. So in some ways business as usual isn't being
conducted exactly as business as usual, but there are many other positive
aspects to consider.

ParkerVision is focused on the fastest growing segment in
what is still a fast growing industry. To remain competitive, handset OEMs
continue to introduce next generation handsets and our company has a very
unique and compelling platform solution for products in both the three and 4G space
that provide very efficient, very effective performance, saving companies
significant cost, a strong incentive certainly in these times.

In this challenging environment, we believe our technology
is very well positioned to help us meet the challenge of achieving commercial
success. So while I am disappointed that we didn't achieve our goal of securing
our next customer before this call, I haven't lost sight of the fact that we
have made very good progress with more than one customer, even in these challenging
times.

Based on the advanced state of some of our discussions and
negotiations, I do believe that you will be hearing of its success in the very
near future, days not months from now. And then of course we will have more
casual progress to talk about.

I am very excited about all the customers that we are
working with as they are leaders in our field. And I believe we will be able to
share with you more details as to who they are and where they will be using our
technology, all of which will reaffirm the magnitude of the market
opportunities for ParkerVision.

[7:40] On the topic of delivering production‑ready
silicon chips for our first commercial customer, we remain right on track to
deliver in this current quarter. This customer and our engineering staff are
working very closely together and have recently reached technical milestones
that continue to verify the fit between their own system chips and the chips
that we have designed for them.

Remember, although we are designing these first d2p chipsets,
our relationship is one where we are the licensor and receive a royalty and it
is our customers who makes their own chipsets under that license. We expect
they will be in a position in this quarter to start their own d2p test and
qualification and we would expect to be working closely with them to assist in
their implementation of our designs into volume production chipsets in the
first quarter of '09.

One additional comment that I want to make regarding
delivery of our chips is to point out that this reaffirms that there are no
unforeseen issues that we have encountered, which shouldn't be taken for
granted, as the development of silicon chips for RF applications, especially
ones that are based upon a completely new technology is a very big milestone.

This should pave the way for others in our industry as well,
who are more risk averse to be able to determine the adoption of our technology
is predictable and practical for their applications.

I would like to also talk about our other current customer:
ITT. In addition to the initial d2p application that they have identified and
that we have previously discussed, they have been very active in pursuing
additional business opportunities that incorporate d2p into products for their
customers.

We are excited about the potential of the wins that they are
working on that includes d2p. We believe that ITT will prove to be an important
long‑term customer and we have seen many opportunities that can be won in
partnership with them.

Earlier this year, we set as one of goals, the objective to
publish information on our website that would help investors and others better
quantify our technology and to speak at an industry conference and to publish a
technical paper on the d2p technology.

We recently presented at the European Microwave Conference
and we published the technical paper, which provides a very good overview of
not only the theory behind our technology, but some of the underlying thought
process as to how we developed our approach.

As exciting as the theory is that is disclosed in the
presentation, even more exciting is the fact that we have working production‑ready
hardware that implements this theory, and customers who are just as
enthusiastic to implement the hardware into their products. I also want to
mention to you that there are some in the industry who even after reviewing our
recent presentation still analyze it as an RF power amplifier.

They still insist that it requires a power hungry DFP to
operate it. Those two basic misconceptions should tell you that they
fundamentally do not understand how our technology works, either because they
aren't qualified to understand or because they have an agenda and choose to not
understand.

Now, I have had a number of you call and ask me about our
financing plans, and first of all I want to make it clear that we don't have to
do anything today. I want to remind you that my family and I personally have
made and continue to make significant investments in ParkerVision, investments
that approach $14 million and we are aligned with all the best interests of the
shareholders and we intend to remain so. We are well on our way to achieving
further commercial success, which we believe will put us in a position of
greater flexibility with regard to our financing options.

I am very confident in our ability to maintain the necessary
working capital to fulfill our business plan. I strongly believe that when we
close out this year, that ParkerVision will have achieved all of the goals that
we have set for ourselves in 2008 and we will have a very exciting set of goals
ahead of us for 2009 and beyond. And so really enough of my presentation, Sarah
why don't we go ahead and open up this call for our audience questions.

Operator: To signal for a question please press "*" then
"1" on your telephone keypad. Again, "*1" to signal for a
question. A reminder, if you are using a speaker phone, please make sure your
mute function is turned off to allow your signal to reach our equipment and we
will pause for just a moment to assemble the roster. And we will take our first
question today from Jim Whitten, Laidlaw.

Jim Whitten: Hi

Jeff Parker:

Jeff Parker: Hi Jim.

Jim Whitten: [12:50] This is the first time since the last two
conference calls I am number one. I don't know what that means, but I would
like to thank you, after being in this company for so many years, I still have
confidence in you and I hope that you succeed. And after having said that, do
you believe that by the end of this year, the projections that you made two or
three conference calls back, where you are going to get, hopefully, shooting at
a certain percentage of the market, that you will have in place the fenders,
fabricators or whatever needs to be done, signed up to achieve that goal? That
is the first question.

Second question is many of us, as you know, I don't have to
tell you this, are getting brutalized by the price of stock, not much you can
do about it, but I am starting to get a little concerned about all these stock
options that are being handed out.

I understand when somebody new comes in, they are giving up
a job and coming on board, but I noticed lately that a lot of these stock
options, RSUs, are going to people that already have considerable number of
shares. And if the stock works out, obviously they'd be up with the Lehman
Brothers crowd. So, those are two questions I would like to pose and good luck
for the balance of the year.

Jeff Parker: [14:10] Jim, thank you very much as always for your
support and I appreciate that you recognize that the mission we have been on
has not been an easy one, but we are getting to the goal that we have been
striving for to achieve the kind of commercial success that we have all dreamed
of for this company. In terms of where we are and our ability to set up the
mechanisms to achieve the kind of market share penetration that I have
discussed in the last couple of calls, but to just refresh people's minds, my
guidance has been that I believe we have the ability to achieve about a third
of the 3G handset space to adopt our technology over the next couple of years
to three years.

And to do that you will see that we have customer base to do
that, we have got the first customer now and I believe you will see additional
customers soon and customers beyond that. So obviously that's an important
factor because their market share will translate directly into our adoption
rate.

And in terms of the ability to produce, remember, we are a
licensor, so what we are really going to be doing is helping our customers
setup whatever supply chain requirements it takes to get them to volume
production.

Our first customer is an experienced chipset manufacturing
company. So what we will be doing is supporting their internal teams, who do
these kinds of chipset supply chain management setup as a matter of course
today, and I also point that we have brought on board a VP of engineering that
we announced recently, who has a lot of experience in the exact same area,
which is setting up the supply chain to make sure that you can get the volume
production in a timely fashion, achieve the right yield, the right cost
structures, and all the things that it takes to be a viable vendor in this
space.

Will all of that be setup, Jim, by the end of year? No, and
that is what I believe will happen as we start in the fourth quarter setting
some of that up with our customer as well as in the first quarter of next year.
And that will enable up to achieve that kind of shared market goal that we have
set forth along with the other customers that we will bring on board.

In terms of the share option question, I am going to have
Cindy to help me with that as well, but I want to point out that we moved away
from a pure share option grant program into what's called a restricted share
unit, which Cindy is probably even better than I am at defining exactly what
that is and give you some guidance on that, but I will point out that the
number of those that we issue is significantly smaller number than we would
have issued share options, because it is a share of stock, a right to a share
of stock not just an option to purchase a stock at a certain price.

And if you look at the volume of those that we issued, which
vests over three years, I think you will actually find it's pretty modest
compared to the total compensation program potential that we have set forth for
our team. I don't know, Cindy you want to talk to this.

Cindy: [17:43] Yeah, I will maybe just add a couple of points on top of
that. Jim, obviously a lot of companies are trending more towards the blend of
restricted stock or restricted share units either as a balance to or completely
towards restricted stock as opposed to stock options. And a lot of that is due
to just some simple changes in the accounting rules that makes the accounting
for the two of those things very similar. As long as market volatility
conditions that result in stock options, that although they result in a
tremendous amount of compensation on your financial statements in terms of
tangible, realistic compensation with volatility, it just doesn't exist.

So that is the transit that we too have moved towards and I
do not want to speak for our compensation committee and certainly they provide
the report in the proxy and in our 10‑K every year, as they ultimately
make the decisions with regard to the executives and senior management, which
is what you are referring to I think.

But they make those decisions based on consultation with
outside independent compensation consultants looking at trends in the industry.
And as I mentioned earlier with their sight on the importance of keeping
together what we feel is a very solid team that we have built here at
ParkerVision as we enter into a time that we believe will be very rapid growth.

And we do have a very broad base. We always have a very
broad based equity plan at the company. All employees in our company enjoy some
form of, whether it be stock options or RSUs, it is not just at the executive
or senior management level. And when we have a company the size of
ParkerVision, every single person counts, so we try to convey that through our
equity plans.

Jeff Parker: [19:36] One other thing I want to add and then we
will move on to the next question is if you also look at a large portion of the
executive grants that occurred, these have gone to very long‑term employees
here, I mean people who have been here for 7, 8, 10 years and beyond. And some
of them who have had share options that were frankly way‑way out of the
money, never complained about it and some of them have expired, and it is just
the way it goes. And I feel very blessed that we have a group of people here
who are very balanced in their view of ParkerVision's potential, have always
had a long‑term outlook for the company and have always tried to balance
that long‑term outlook with making investment in ParkerVision for their
career. So, I am actually very pleased with the research the compensation
committee did and I think they came to a very balanced and fair conclusion.

Cindy: One last quick point on that and then I will let the operator go
to the next question and that is at our annual meeting in August, the
shareholders approved a new equity plan. And I just want to point out that that
new equity plan specifically excludes executive officers from being able to
receive awards under that plan.

Jeff Parker: Shall we take our next call?

Operator: Next we will hear from Ira Nathan, Nathan Financials.

Ira Nathan: [21:08] Ah yes Jeff, a couple of questions.
According to what I have heard, it seems like your burn rate is about $4.6
million per quarter.

Jeff Parker: That is right.

Ira Nathan: And with $9.2 million, it seems like you have this
quarter and next quarter.

Jeff Parker: Actually $9.8 million, but yeah, right.

Ira Nathan: Pardon?

Jeff Parker: That's $9.8 million, that is right.

Ira Nathan: Well, I am just using rough figures. And then
according to what I got out of your statements in answer to another question,
you no longer are expecting any royalties this quarter?

Jeff Parker: No. Our goal this year was to get the volume ready
and also production readied silicon to the customer before the end of the year
in the fourth quarter, which we are right on track for and to help them get
their systems setup, so they can ramp into production as quickly as possible
which we believe will occur in the first quarter next year and then royalties
will ensure.

Ira Nathan: At what point are you now expecting to receive
royalties?

Jeff Parker: Ira, some of that is a little out of our control,
because of how quickly they get the production setup, but if it happens the way
I think it will happen and our customers told that they are highly motivated to
get this out there as quickly as possible. You know to refresh everyone's
memory, this is a design that goes into an existing platform that they sell and
is an upgrade to that platform. So they have already got customers using it,
they have already got business for it and it is significant. So they want to
upgrade the platform and we want to help them get that as quickly as possible
into the marketplace. I would expect as soon as they get that volume silicon
into their systems in the first quarter that we will start to see royalties
right thereafter.

Ira Nathan: OK. Thank you.

Jeff Parker: Thank you.

Operator: [23:17] Next we will hear from Philip Anderson, Pinnacle Fund.

Philip Anderson: Yes, I wanted to follow along on the lines of
questioning of the first caller, talking about guidance to market share.
Looking back at a transcript from the previous call, I think you start this
again tonight, that if you have approximately one‑third of the market
share going forward for 3G and 4G handsets, that would equate to about $2 to $3
a share in untaxed earnings on $30 million share basis, is that the correct
assumption?

Jeff Parker: That is right, Phil. So basically on the forecast for
the mobile handset space, if you look at achieving a third of that market and
based on the kind of range of royalties we expect to receive from our existing
contract and others that we are working on, we would expect that on $30 million
share outstanding basis that we would generate a $2 to $3 share pretax
earnings, that is correct.

Philip Anderson: So, given our current customer and the customer you
expect to sign over the next couple of days or two or three weeks, is what I am
inferring from the statement that you made in the press release, how much of
that one‑third would these customers likely aggregate to?

Jeff Parker: I think I mentioned in the last call or the last
couple of calls that our first customer I thought could get us in the mid,
maybe better than that single digit market share. I think the next customer
that we will be talking about, you will see can do even frankly more than that.
But I really would like not to talk specifics about that customer until we
announce it, then I think it will be wholly appropriate to go into more detail
and the potential with that customer. It is a significant company and they
could generate lot of business for ParkerVision and I think ParkerVision can
also provide them a very nice competitive advantage in the marketplace themselves.
It will be my pleasure to talk about the specifics of that customer, but let's
wait till we get to that phone call.

Philip Anderson: Sure. Then just one more question about specifics,
Jeff. At this point in time, do you expect that you will be able to share the
name of the customer when the contract is announced?

Jeff Parker: I sure hope so, that has been our objective and at this
point, I don't see ‑‑ I don't have an indication that we won't be
able to do so, but we will know when we have got both parties' signature at the
bottom of the agreements. But it is my hope that we absolutely will be able to
do that, yes.

Philip Anderson: And will IBM be the fab for these customer's chips or will
that be done by the customer itself or will another fab come in?

Jeff Parker: Let's address that when we have that call.

Philip Anderson: OK, got it.

Jeff Parker: It is a good question, I appreciate it, but let's wait for
that.

Philip Anderson: OK, fair enough. Thanks.

Jeff Parker: OK, thanks. Next caller?

Operator: And once again, to signal for a question "*1" on your
telephone keypad. Next we will hear from Charles Bellows, White Pine Capital.

Charles Bellows: [26:21] Yeah, Jeff, couple of things. One, could you
talk a little bit about the ITT relationship, where you are? You are still in
the period that you are recognizing any revenue from that contract. And the
other part is, explain for me the production‑ready volume. And I take it
from your comments that until it is accepted and starts into production with
the customer, you could still have delays if there is something in there that
doesn't work quite right, so even the first quarter may not be realistic. So
could you just talk about those two things?

Jeff Parker: [27:08] Sure. Let me go in the order. So on the ITT,
they as I mentioned have an application which they have identified. We have
been working with them closely for our technology within that application. We
will try to give more visibility into exactly when that will be deployed but
honestly that is confidential between us and ITT, and I really am not
comfortable giving you anything more on that, certainly not without their
permission. I mentioned that they are pursuing additional business
opportunities. They have a very strong and respected presence in their market
segment, which is government and military, and there are some programs they are
pursuing specifically with d2p that are very large opportunities. Again, I
can't tell you exactly the nature of the programs because of the
confidentiality, but I can tell you that we would be very happy to be included
in any of these opportunities that they are pursuing with the technology.

So while I know it sounds quiet on the ITT front, it is not.
I wish that I could share with you guys all of the activities that ITT has put
forth in working with our technology and promoting it and looking to
incorporate it with some of their customers, but I'm really not at liberty to
go into any more details on that. As you know, the market segment they are in
is already a very confidential area because of their customers, on top of the
fact that we have confidentiality with them in general.

So I believe we will be able to talk more about ITT in the
not‑too‑distant future, but at this time, I really can't tell you
anymore other than the opportunities they are working on, from my view, are
very significant. And I believe they will get some of the ones they are going
after, I don't say get all of them, but they will be good contributors to
ParkerVision's revenue stream.

On the question about the acceptance by the customer and
what do we mean by production ready. So production ready means that it has been
tested and proven to be worthy of volume and it achieves the right yield, that
it achieves the performance over temperature and voltage and all the non‑ideal
operating conditions that you have to meet in the mobile handset product.

Because we have been working very closely with them, I mean
I would be very surprised, it would be something completely on the left field
that they would find anything.

I mean they have our hardware and we have their hardware and
we constantly are testing things together and working I mean literally daily,
weekly on this. So for us to finally turnover the final to them and for them to
find something that we haven't found, I think would be pretty unlikely. I
wouldn't say it is impossible, but I'd relegate it to the very‑very
unlikeliest circumstances.

So it is our expectation right now that we will turn it
over. They will check off all the boxes. They have got to check to satisfy
themselves that that we have all done our job and then nobody then they will
begin to ramp.

Charles Bellows: [30:18] And that will be completed, you hope, by the
end of this quarter?

Jeff Parker: Turnover to them will be by the end of this quarter
and they will start setting up for the volume production in the following
quarter.

Charles Bellows: And when do you think you might be able to announce
who that is or is that going to come from your partner?

Jeff Parker: You know, I honestly don't know. I really would like
to give you that visibility. They have asked for confidentiality. We've
maintained it. I would hope that they would be interested in promoting the
benefits of our technology, before you can go out and pick it up in a handset. But
certainly if you could pick it up in a handset, I expect that you will know who
it is because there are people in this industry who go off and do reports on
components inside phones and especially things that are different and new and
unique.

And so once that happens, the word will be out, but I would
hope that they will be interested in coming out and talking about this. Before
then and perhaps maybe some of the next customer or two, will further encourage
them to kind of become part of the group that is out there promoting the
benefits of this technology and all that it can hopefully do for their
customers and their product lines.

Charles Bellows: Thanks.

Jeff Parker: Thank you.

Operator: And we have time for one more question and that will come from
Jim Whitten, Laidlaw as a follow‑up.

Jim Whitten: On Phil...

Jeff Parker: Yours is the first and the last question today, OK.

Jim Whitten: [32:00] All right. In reference to Phil's questions,
when we discussed the potential next client, you said you hoped that you would
have disclosure. Have you discussed possible disclosure with the client?

Jeff Parker: We have.

Jim Whitten: OK. So, so far, it has been favorable response then?

Jeff Parker: There has and if you hear any caveat to that, it is just
that a deal is not a deal until it is signed by both parties. That is the only
caveat.

Jim Whitten: So it has been discussed anyway?

Jeff Parker: Oh yes.

Jim Whitten: Secondly, in reference to Phil's reference to my projection
when you said $2 to $3, you are talking about the handsets. That does not, from
what I understand, include any potential profit or revenue streams from ITT, is
that correct?

Jeff Parker: No, that is correct. Yes absolutely, that is on top of
that.

Jim Whitten: So that would be incremental?

Jeff Parker: That is correct.

Jim Whitten: OK. And you also inferred in this conference call that you
are working on potentially two customers to hopefully consummate by the end of
the year, is that correct?

Jeff Parker: We are. Right now, we only want to get the next one
announced and then we will worry about the one after that. Once we get the next
one announced tonight, I am sure that we will only get to enjoy the euphoria of
that for a few minutes before we are asked, "When is the next one?"
"But that is OK, give be my few minutes at least."

Jim Whitten: Did you refer or made a mistaken in one of the previous
conference calls that you were actively working on more than two?

Jeff Parker: Oh, yeah. We have several customers we have been working
with and frankly they even through these difficult times, stayed in these
discussions with us, but right now, Jim, my goal is and so is the team's goal,
get the next one in that we see on the horizon coming very close. And there is
more beyond that, we will talk about that in the next call.

Jim Whitten: OK. And my last question here is considering the turbulent
times as you referred to, especially in all these things, doesn't our
technology bring, if I am not mistaken from what you said previously, bring us
cost savings, labor savings, et cetera, et cetera?

Jeff Parker: Absolutely. Look one of the things that I see happening in
this industry today and I am quite glad you stimulated it because it didn't
find its way in my discussion that is worthy I think of mentioning it. What I
am saying happening today is companies would with "me‑too"
offerings are frankly getting squeezed out of the business. You see people
extracting themselves from the business just because there is too many
offerings of the exact same process. So your ParkerVision shows up with
something that is truly novel, truly different, truly brings big benefits, the
people have been hearing for, although I will knowledge they have been
skeptical we can achieve, but now you have got the products, OK. You are not to
be skeptical anymore and if that function of being different, differentiated
products that I believe is what is going to win the day.

And if, those companies who have the leadership and the guts
frankly and the vision to adopt something different, who are going to be the
guys that survive? And all these other guys who are out there saying, "Oh,
I will just keep doing the same thing I have been doing forever."
"Well, guess what? Those times are going away." So I think this is
setting up very nicely for ParkerVision, albeit it is a rough ride right now.

Jim Whitten: Thank you.

Jeff Parker: Thank you, folks. Thanks to those of you who continue to
support us. We are working our little tailbones off to make all of us happy in
our ability to build the kind of shareholder value that we still know that can
be built. We are not going to let these rocky turbulent times get us down. We
are going to stay the course and we are going to get to our goals. And our goal
is commercial success, our goal is at $2 to $3 a share that we talked about and
that's a third of the market. And that de facto standard option and we will get
there and with your support, we will be up there as well. So thank you. Have a
good evening and I look forward to speaking with many, maybe all of you sooner
or later. Bye‑bye.

Operator: That does conclude today's conference. We thank you all for joining
us.